In a recent transaction, Keith Rabois, a director at Affirm Holdings , Inc. (NASDAQ:AFRM), sold a significant number of shares in the company. The transaction, which took place on March 14, 2024, involved the sale of shares with a total value exceeding $318,970.
The sale was executed in multiple tranches, with prices ranging from $33.2904 to $38.195 per share. Specifically, Rabois sold 3,376 shares at an average price of $33.2904, 3,400 shares at an average price of $34.4838, 2,000 shares at an average price of $35.2945, 300 shares at an average price of $37.03, and 200 shares at an average price of $38.195. These transactions reflect a weighted average sale price within a range that varies for each batch of shares sold.
According to the filing, the sales were conducted under a prearranged 10b5-1 trading plan, which allows company insiders to sell shares at predetermined times to avoid accusations of insider trading. This plan had been adopted by Rabois on December 14, 2023, well in advance of the actual sales.
After the completion of these transactions, Rabois's ownership in Affirm Holdings decreased, but he still retains a substantial number of shares. The sale has been publicly disclosed as required by the Securities and Exchange Commission regulations for insider transactions.
Investors and followers of Affirm Holdings can obtain more detailed information regarding the exact number of shares sold at each price point upon request from the company or the Commission. The disclosure of these sales provides transparency to the market and allows shareholders to stay informed about the financial moves of the company's directors.
InvestingPro Insights
In light of the recent share sales by Affirm Holdings, Inc. (NASDAQ:AFRM) director Keith Rabois, investors may be keen on understanding the current financial health and market performance of the company. With a market capitalization of $10.5 billion, Affirm Holdings demonstrates significant presence in its sector. However, the company's P/E ratio stands at -13.88, indicating that investors are facing losses relative to the company's earnings for the last twelve months as of Q2 2024.
InvestingPro data reveals that Affirm has experienced robust revenue growth of 29.35% over the last twelve months, which could be a signal of potential for future profitability despite current losses. The company's gross profit margin is strong at 61.88%, suggesting that Affirm is effective at controlling its cost of goods sold and maintaining profitability at the gross level.
InvestingPro Tips highlight that Affirm's stock price has been highly volatile, with a significant drop of over 22% in the last three months, yet an impressive return of over 255% over the past year. This volatility is a critical factor for investors to consider, especially those looking for stable returns. Additionally, analysts do not expect the company to be profitable this year, which is an important consideration for those evaluating the company's near-term financial outlook.
For investors interested in a deeper analysis, there are 9 additional InvestingPro Tips available at Investing.com/pro/AFRM. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, helping you make more informed investment decisions with the latest data and expert insights.
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